Answer:
The appropriate journal entries to record the bond issue on January 1, 2021, and the first two semiannual interest payments on June 30, 2021, and December 31, 2021 are:
White Water journal entries
1-Jan-21
Debit Cash $382,141
Credit Discount on Bonds Payable $27,859
($410,000-$382,141)
Credit Bonds payable $ 410,000
30-Jun
Debit Interest Expenses $ 15,286
($382,141 x 8%/2)
Debit Discount on Bonds Payable $736
Credit Cash $14,350
($410,000 x 7%/2)
31-Dec
Debit Interest Expenses $15,315.08
[($382,141 + 736) x 8%/2]
Credit Discount on Bonds Payable $965.08
($15,315.08-$14,350)
Credit Cash $14,350
($410,000 x 7%/2)
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If you have a VA service-connected disability rating of 10% or higher, you are eligible to receive a monthly compensation check from the VA. The monthly compensation payments vary by your disability rating—and if your rating is 30% or higher—the rates are increased, depending number of dependents you have filed on your claim.
Answer:
d. $672.41 per service call
Explanation:
The computation of the activity rate for servicing goods is shown below:
= (Total servicing good cost) ÷ (Total service calls)
= $195,000 ÷ 290
= $672.41 per service call
The total service call would be
= JIT distributors + Non-JIT distributors
= 200 + 90
= 290
All other information which is given is not relevant. Hence, ignored it
Answer:
Over applied Overhead =$ 42,500
Explanation:
Actual Overhead $325,000
Estimated Overhead $350,000
Over applied overhead is when the Predetermined overhead is more than the actual overhead . Under applied overhead is when the Predetermined overhead is less than the actual overhead .
Predetermined Overhead rate= Overhead / total direct labor hours
= 350,000/ 500,000 (100)= 70%
Applied Overhead = Predetermined Overhead rate( actual direct labor hours)
= 70 % (525,000) = $367,500
Applied Overhead $367,500
Less Actual Overhead $325,000
Over applied Overhead =$ 42,500
